Hedge funds’ commodity bets see little change in value over year

Hedge funds and other big speculators held just over $70 billion worth of bullish bets on U.S. commodities as the year began, barely changed from 12 months ago, after two weak quarters offset price gains from the rest of 2012, data showed.
Holdings in oil saw some of the most dramatic shifts in value over the year. Open interest in U.S. crude held by money managers fell from 77,717 lots worth about $8 billion to just around 13,391 lots valued at less than $1.3 billion, according to data from the U.S. Commodity Futures Trading Commission………………………………………..Full Article: Source